SRGE & NYSE Deal is "OFFICIALY" Signed~> PPS will launch and now 4th Qtr Financials will put SRGE into Orbit :-)
SRGE NEWS CONFIRMS DEAL SIGNED WITH NYSE MINING COMPANY~>
Southridge Announces Signed Agreement with Major NYSE Listed Mining Company on Cinco Minas and Gran Cabrera Gold & Silver Mines in Mexico
DALLAS, Dec. 13, 2012 /PRNewswire/ -- Southridge Enterprises Inc. (SRGE) ("Southridge" or the "Company") is please to announce that it has signed a Confidentiality Agreement (CA) with a major NYSE listed gold mining company regarding both the Cinco Minas and Gran Cabrera properties. Due to terms contained within the CA, the Company is unable to announce either details of the CA or the parties involved.
"Obviously we are very excited to be involved with a global mining leader, this is a new phase of development for Southridge, and it is a confirmation of our efforts over the past several years. Our goal from beginning for both Cinco Minas and Gran Cabrera has been to secure a world-class partner that is capable of moving these projects forward, and today is a major step that direction," said Michael Davies, President & CEO of Southridge. "While a CA is early in the process, I feel it is important to note that Southridge who was sought out by multiple offers and that both Cinco Minas and Gran Cabrera are the subject of intense interest. We are confident that these two projects warrant further development and we will be successful in executing our goal of building a world-class gold and silver mining facility at Cinco."
The Company stated, it felt a duty to report the latest development to shareholders due to previous news announcements. But it is important to note that due to legal obligations and the sensitive nature of this process; Southridge will issue no further comments regarding the Agreement until such time it is warranted. "This is a crucial point in the development of Southridge and it is vital we do not jeopardize the future of the company. We need to be focused on executing our long-term strategy by continuing to develop our mining assets in the Sierra Madre Gold Belt," said Davies.
Southridge Minerals, Inc. is a U.S.-based mineral exploration company dedicated to acquiring and developing mineral resources in geologically permissible and politically stable areas of the world. The Company seeks out early stage opportunities with good mineralization indicators that exhibit significant blue-sky potential. Southridge pursues and advances these projects that are or will be of interest to mid-size and major producers. By forming alliances on individual projects, the Company expects to develop its interests in mines operated by its partners, allowing it to continue to build value through continued exploration. Southridge is currently focused on projects in Mexico.
What sets Southridge apart is its vast experience in Mexico and the knowledge of the geological conditions and formations pertaining to known large gold deposits that have received very little attention to date. This comparative advantage, combined with a specific geographical and mineral focus, will allow for more efficient asset and income growth in the future for the benefit of shareholders' investments.
Forward-Looking Statements
Although the Company believes that the forward-looking statement of beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's published current and periodic reports.
Step 1:Find and secure land for the wind turbine facility, Earlier this year, the Company executed a long-term land lease agreement for the site. In total, the Company has exclusive access to 5,300 hectares of land. The land is accessible from public roads, is generally flat, and has an existing infrastructure that should assist with the overall construction costs. This step is complete.
Step 2: STLK hired GL Garrad Hassan, a well know international firm, to undertake the analysis regarding the amount of kWh the proposed plant should generate per year, based on the wind measurements. This step is now complete and makes way for step 3. http://www.gl-garradhassan.com/en/index.php
Step 3: Armed with this data, STLK's primary focus for Q1 2013 is the Power Purchase Agreement. A Power Purchase Agreement is a long-term (we expect twenty years) contract for the purchase of all power generated at the plant, at a specified rate per kWh. This should come fast as there is a power shortage in Costa Rica. V3rsant is currently in negiotiations with a government entity regarding a Power Purchase Plan.
Step 4: With a Power Purchase Agreement in hand, the 15% capital investment should come from a savvy investor, with the LOI from the EXIM bank making up the other 85%. As of December 31, 2011 the Company had raised $1.15 million in private equity
Step 5: Build the $60M wind turbine facility. The Company expects to install a 37.5 MW power facility. Based on its wind studies and current data, this facility is expected to generate an estimated 137.5 million kWh annually.
On October 15th, 2012, STL Marketing Group, Inc. and Versant Corporation agreed to merge. As a result, the Company is currently undergoing the process of updating its OTC information, as well as working towards filing its S-1 registration. Currently, all its filings are at www.otcmarkets.com. Once the S-1 is filed and accepted, the Company will begin to post all its information on this web site and include all its EDGAR filings.